Quick Answer: What Is Minimum Balance In HDFC?

Which bank is safest in India?

List of Best, Safe Banks in India1) HDFC Bank.

If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake.

2) State Bank of India.

3) ICICI Bank.

4) AXIS Bank.

7) Kotak Mahindra Bank, IndusInd Bank..

How can we avoid minimum balance charges?

Pay your bills online. If you use your bank’s online bill paying features, you can often avoid minimum balance fees. Even if you use the online bill paying as infrequently as once a month, many banks will credit this and will not charge the maintenance fees.

What is closing balance in HDFC Bank?

A closing balance is the sum of the total available at the end of an accounting period / reporting period. This includes amount pertaining to pay order, cheque, demand draft, etc. that are yet to be cleared.

Which bank saving account is best?

Here are some of the best high interest savings accounts in Malaysia.Standard Chartered Privilege$aver.RHB Smart Account/-i.OCBC 360.UOB Stash.Hong Leong Bank Pay&Save Account.Alliance SavePlus Account.UOB One Account.OCBC FRANK Account.More items…•

Which savings account is best?

Best savings accounts & rates of December 2020High Rate: Discover – 0.50% APY.High Rate: Marcus by Goldman Sachs – 0.50% APY.High Rate: Citizens Access – 0.50% APY.High Rate: Barclays Bank – 0.45% APY.High Rate: CIT Bank – up to 0.45% APY.High Rate: Capital One – 0.40% APY.High Rate: PurePoint Financial – 0.40% APY.More items…

Which HDFC account is best?

HDFC Bank offers the following Savings Account Schemes:SavingsMax Account: … Regular Savings Account: … Women’s Savings Account: … Kid’s Advantage Account: … Senior Citizens Account: … Family Savings Group Account: … Basic Savings Bank Deposit Account: … Institutional Savings Account:More items…

What is the minimum balance in HDFC Bank?

The minimum balance limit in case of HDFC Bank is Rs 10,000 for urban branches and Rs 5,000 for semi-urban branches. According to new rules announced by SBI, account holders will have to maintain the monthly balance or else they will invite a penalty ranging from Rs 20 (rural branches) to Rs 100 in (metro cities).

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

Can I close my HDFC account with negative balance?

Either manager will close the account or the account will be dormant….. … For account closure we need to make it positive, if do not want to close then no need to pay but your -ve amount will be increase month by month. We may required hdfc in future for any loan so i think its better to pay and close the account.

What is a minimum balance?

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.

Which bank has zero balance?

Top Zero Balance Savings Account 2020Top Zero Balance Savings AccountAccount NameInterest Rate (up to Rs 1 lakh)Standard Chartered Bank Aasaan3.00%HDFC Bank BSBDA3.00%State Bank of India BSBDA2.70%5 more rows•Jan 21, 2020

What is minimum monthly balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

Is HDFC better than SBI?

This is despite the fact that SBI’s balance sheet is four times larger than HDFC Bank, has 10 times more customers, and is owned by the government of India. What’s worse, the stock shed nearly 6% more in value in trade today….BankMarket capitalisation as of May 4HDFC Bank₹5 lakh crore1 more row•May 5, 2020

Is HDFC better or Icici?

Employee Ratings. ICICI Bank scored higher in 2 areas: Work-life balance and % Recommend to a friend. HDFC Bank scored higher in 6 areas: Overall Rating, Career Opportunities, Compensation & Benefits, Senior Management, CEO Approval and Positive Business Outlook. Both tied in 1 area: Culture & Values.

Can I open zero balance account in HDFC Bank?

HDFC Bank zero balance savings account can be opened by any resident individual who is not having an existing relationship with the bank and do not have complete KYC. A zero balance basic savings account can be opened with HDFC Bank which will have certain transactional and operational limits.

What is average monthly balance HDFC?

Assuming, a bank asks that you maintain Rs 5,000 as average monthly balance: On July 1, the balance in the account is Rs 5,000. On July 12, withdrawal of Rs 4,000 takes place. EOD balance is Rs 1,000….HDFC Bank.AMB SlabMetro/UrbanSemi Urban/Rural>=2,500 to < 5,000Rs. 450Rs. 1500 to < 2,500Rs. 600Rs. 3002 more rows•Aug 6, 2018

What happens if we don’t maintain minimum balance in HDFC?

Banks are allowed to charge non-maintenance of minimum balance penalty to the customers but there is no cap on the charges. … For example, HDFC Bank has an average monthly balance (AMB) requirement of ₹10,000 for urban branch accounts while for semi-urban branch accounts the requirement is ₹5,000.

Which bank is best Axis or HDFC?

But, in terms of interest rates, HDFC is a better option as its highest rate is 8%. Whereas, Axis Bank Home Loan Interest rates are can go upto 8.55%….People Also Look For.Home Loan Interest Rates December 2020Axis Bank7.75% – 8.55%Bank of Baroda6.85% – 8.25%Citibank7.13% – 8.03%HDFC6.90% – 7.65%9 more rows